There are generally two types of water aerators which are used, for among other things, to keep fishing bait alive. One type of aerator draws air from the surrounding air and pumps the air in a stream of bubbles beneath the surface of the water. The other type agitates the surface of the water so as to draw or trap air bubbles beneath the surface of the water. Among the latter types are those which force streams of water onto and below the surface of the water, thereby trapping air bubbles and forcing the air/water mixture to circulate within the container. The present invention is a live-bait water aerator suitable for placing in any container to provide uniform aeration. The present invention is a three-chambered water pump which rests on the bottom of a container and pumps filtered water from the container above the surface of the water in the container and sends streams of water in a substantially circular pattern, below the surface of the water, thereby driving air, containing oxygen, below the surface and simultaneously setting up a circulation of water containing air bubbles within the bait container thereby prolonging the life of the bait.